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Reports in Spain are claiming that Arsenal are the favourites to land Real Madrid’s Isco when the January transfer window opens.

This isn’t the first time the Gunners have been linked with a move for the playmaker, as back in September there were reports that Arsenal had made a formal approach for him.

Now it is being claimed that they are back in for the 23-year-old who is said to cost about £33.8million or, if you prefer, just a little more than Alexis Sanchez.

It’s unlikely that Arsene Wenger will sanction a move for a player that will cost this much during the January transfer window.

Everyone knows that January adds a few million more on to any price tag. No club wants to lose any players in the middle of the season, and the buying club are often seen as being desperate.

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Despite an ongoing injury crisis, Arsenal are not desperate – especially not when it comes to attacking midfielders.

Danny Welbeck, centre, has hardly been seen this season (Picture: Getty Images)

Of course, this could change if a doubt was to be raised over Jack Wilshere’s long term fitness, or if there is any substance to the rumours that Danny Welbeck’s knee is still a major problem and it’s highly unlikely that we will see him return this season.

Once upon a time it was easy to dismiss all these sorts of rumours because Arsenal simply would not, or rather could not, pay the asking fee.

Now, as we know, they’re more than happy to splash the cash should they find a player that is an upgrade on what they have, and we all know that Arsene Wenger sits at home dreaming of the day he can field a team of nothing but attacking midfielders.

But it is highly unlikely that he will buy Isco, at least not in January unless there’s something going on behind the scenes that we aren’t aware of.

If that is the case, it’s unlikely to be something any of us are going to be happy about so let’s hope it’s not.